Mitek partners with Fiserv for mobile deposit

01 September 2010 | 4032 views | 0Source: Mitek

Mitek Systems, Inc. (OTC Bulletin Board: MITK), an innovator of advanced-image analytics and mobile-document-capture applications for smartphones, announced that it has entered into an OEM agreement with Fiserv, Inc. (Nasdaq:FISV), the leading global provider of financial services technology solutions. This follows Mitek receiving a United States patent for its widely used Mobile Deposit® mobile Remote Deposit Capture (RDC) application, patent No. 7,778,457 on Aug. 17.

Under the agreement, Brookfield, Wis.-based Fiserv will leverage Mitek's Mobile Deposit® technology in its Mobile Source Capture™ solution to allow consumers and businesses to deposit checks via their camera-equipped smartphones.

The agreement marks the latest in a series of distribution partnerships Mitek has won with all of the leading application services and technology solutions providers to the financial services industry. The sum of those agreements easily make Mobile Deposit the "Gold Standard" in mobile RDC.

Mitek's patented Mobile Deposit was developed to be accurate, secure and easy to use by both consumers and business people who want to deposit checks from anywhere at any time. The application supports all payments industry standards for RDC, including Check 21, and works well with all leading smartphones, including Apple's iPhone, Blackberry from RIM and devices on the Android and Windows Mobile platforms.

"We chose to partner with Mitek when creating our new mobile deposit capture solution because we are committed to providing innovative new solutions that enable best-in-class results for our clients," said Gary Brand, director of Source Capture Solutions at Fiserv.

Mitek President and CEO James DeBello said: "When they see how easily and successfully our application works in accepting mobile deposits of checks, banks often take our superior quality for granted. But an application that delivers Mobile Deposit's consistent results was difficult and expensive to develop. We are very pleased that our agreement with Fiserv recognizes our investment in building the best."